Today’s Key Market Drivers: 27th September 2019
Today on Money Exchange.
Join me live on the Train With Andrew YouTube channel at 1.00pm AEST for Money Exchange where this week I will be sharing…
- When is the best time to look at your charts?
- How I buy and sell stock.
- Why the markets are continuing to look nervous.
- 4-hour Wave count update.
- All the latest market news that you need to know about.
- More limited edition LTG GoldRock Gold pen giveaways!
See you at 1.00pm AEST on the Train with Andrew YouTube channel.
Negative Sentiment lingers in the back half of the week.
Financial markets have struggled to make any gains all week with the S&P 500 down for the week with 3 out of 4 losing days. Safe haven currencies, in particular, the US Dollar have remained supported as fears of a US Presidential impeachment and trade war tensions with China again turning sour keep traders on tenterhooks.
Whilst the market is mindful of the two big elephants presently in the room, Thursday’s trading range and small sell-off did not give any signals investment banks and hedge funds are about to hit these markets sharply lower.
Greenback continues to gain strength.
The EUR v USD hit a two-year low on Thursday as the US Dollar continued to find support as the worlds reserve currency and ultimate safe-haven asset for currency traders. The US economy whilst it is expected to contract in coming quarters still remains a stand out compared to the UK, Europe, Australia, New Zealand and many parts of Asia, Africa and South America.
As I noted in yesterday’s report when markets get nervous the major players want their money to be in US Dollars and this increases demand and the currency value goes higher.
China says the US is showing goodwill.
China Foreign Minister Wang Yi said on Thursday the USA was showing goodwill in wavering tariffs on some Chinese goods and that China is prepared to buy more US products. The market has heard positive comments on trade from both sides on a number of occasions and frankly, it’s not likely going to take much notice of any talk and wants to see real action.
How do you get the best out of yourself?
Click on the Sunrise 575 video link below for an extended Friday chat on the beach with AB & Rosie on how to get the best out of yourself and build incredible self-belief.
In other news.
US Durable Good and Personal Consumption Expenditure data will be closely monitored today and if out of line with market expectations traders will use it as ammunition to trade the US Dollar higher or lower. Positive data generally means the currency is bought up as the expectation is interest rates will eventually rise. Thursday saw 2nd quarter US GDP (growth) figures meet the markets estimates.
If you need to walk through hell, then just do it. Quickly!
About the Author: Andrew Barnett
Andrew is a professional trader and successful investor who has a strong focus on education. He is a regular Sky News Money Channel Guest and one of Australia’s most awarded and respected financial experts and is regularly contacted by the Australian Media for the latest on what is happening with the Australian Dollar. Director at LTG GoldRock, Andrew Barnett, guides thousands of traders around the world in the live market on a daily basis, advising them on buy and sell directions, as well as trading his own personal account. Andrew, a regular keynote speaker at trading and wealth-creation events throughout the Asia Pacific region, is an authorized representative registered with the Australian Securities and Investment Commission (ASIC).
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